Why is there a euro crisis?
On Thursday, October 28, 2011, prices of European stocks soared. Big banks like Société Générale (+22.54%), BNP Paribas (+19.92%), Commerzbank (+16.49%) or Deutsche Bank…
Preparing for Euro breakup
In this essay we evaluate the alleged costs of a euro exit and propose practical steps to make a withdrawal from the euro as…
The official start of the European transfer union
There are basically three scenarios for the future of the European Monetary Union as I argue in my book The Tragedy of the Euro….
The Tragedy of the Euro – second edition
In the past, The Tragedy of the Euro could only bought in the U.S. This implied long shipping to Europe and high shipping costs….
Fractional Reserve Free Banking: Some Quibbles
In this article recently published in the Quarterly Journal of Austrian Economics, David Howden and I discuss the theoretical problems of fractional reserve free…
The resistance to EU centralization comes from Slovakia
The heroes of Europe are to be found in Slovakia. The Slovak government is the only Eurozone government that did not participate in the…
The day the ECB lost its last credibility
January 14th 2011 is the day on which the Greek government ultimately would have failed. Only extreme interventions by the ECB, breaking former promises,…